JK Minerals Auctions RSC, Realises Rs 98 Lakh Revenue25 February, 2016, By Cross Town News
JAMMU, Feb 25: Jammu and Kashmir Minerals Limited, a J&K Government Undertaking conducted auction of Rough Sapphire Corundum (RSC) at JawaharLal Nehru Udhyog Bhawan, Rail Head Complex, Jammu during which as many as 67 different lots of corundum sapphire were displayed for open auction by the bidders who had come from different parts of the country.
The auction was held under the Chairmanship of Secretary, Industries, R. K. Bhagat, while as Managing Director, JK Minerals Ltd., Abid Suhail, Director, Geology and Mining, F. A. Khan and other concerned senior officers were present on the occasion as members of the auction committee.
In all the auction of 29 lots went under hammer which fetched Rs 98.16 lakh revenue for the corporation.Elaborate arrangements of security and banking facilities were made by the Corporation, besides surveillance through CCTV Camera’s.
Speaking on the occasion, Mr. Bhagat said that the washed rough corundum sapphire has been mined out from mines in Paddar , Kishtwar district. He said J & K minerals has a vast potential to provide employment opportunities in the state. He said efforts are under way to extract sapphire on scientific lines which has great potential to generate the resources for the economic development of the region and the state .He also emphasised for reaching out to the national and international market so that optimum price of the sapphire is obtained.